Kennedy Lewis Acquires Majority Stake in The Greenbrier Resort

New York-based Kennedy Lewis Investment Management acquired majority ownership and controlling interest of The Greenbrier resort in White Sulphur Springs, West Virginia, through a $500 million joint venture. The deal grants the investment firm 51% control and appoints Lloyd Nathan as chairman of the Board of Directors. The refinancing is designed to eliminate approximately $300 million in debt and settle outstanding state taxes, ending a legal battle with White Sulphur Springs Holdings, an affiliate of Omni Hotels & Resorts that had sought a court-appointed receivership after purchasing the resort's debt.

Senator Jim Justice and his family, who saved the resort from bankruptcy in 2009, retain partial ownership and seats on the board. To finalize the transaction, the Justice family briefly threatened to shut down the resort's casino and lay off 90 workers due to approval delays from the West Virginia Lottery Commission. The Commission subsequently granted temporary authorization for the casino to remain operational while it completes a formal review of the ownership change.

Governor Patrick Morrisey welcomed the new ownership and urged the Lottery Commission to prevent employee losses during the transition. While the deal addresses significant debt, the Lottery's acting director noted that it does not resolve separate mining-related fines owed to the state. Kennedy Lewis and Lloyd Nathan stated their intention to invest in the property's long-term future and enhance its standing as a premier destination without altering its core identity.